date:Jan 13, 2014
Sobeys says its acquisition of Safeway Canada will provide it with a new growth platform in Western Canada, the countrys fastest-growing region, while also significantly increasing the retailers economies of scale. To help it gain scale, Sobeys will require the retroactive 1-per-cent synergy savings rate from suppliers, it says.
This 1 per cent synergy savings rate will be deducted from payments starting the end of January 2014, the letter says. Retroactive savings will also be deducted. The r